Pakistani stocks higher; rupee weakens, o/n rates flat

Published August 21, 2014
Photo courtesy: www.kse.com.pk/
Photo courtesy: www.kse.com.pk/

KARACHI: Pakistani stocks ended higher on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange rising to 0.70 per cent, or 200.41 points, to 28,865.25 as Pakistan Tehreek-i-Insaf (PTI) chairman Imran Khan opened talks with the government over protests.

The index rose as political tensions declined after the government started negotiations with anti-government protesters camped in Islamabad since last Friday, said Samar Iqbal at Topline Securities.

Leaders of Pakistani protesters trying to bring down Prime Minister Nawaz Sharif were talking with the government on Thursday as a way out of an impasse that has raised concerns about the nuclear-armed country's political stability.

Pakistan Petroleum Ltd rose 1.20 per cent to 226 rupees, while D.G.Khan Cement Co Ltd closed up 1.28 per cent at 75 rupees.

The rupee ended at 101.00/101.06 against the dollar, compared with Wednesday's close of 100.10/100.20.

Overnight rates in the money market remained flat at 9.50 per cent.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

First steps
Updated 29 May, 2024

First steps

One hopes that this small change will pave the way for bigger things.
Rafah inferno
29 May, 2024

Rafah inferno

THE level of barbarity witnessed in Sunday’s Israeli air strike targeting a refugee camp in Rafah is shocking even...
On a whim
29 May, 2024

On a whim

THE sudden declaration of May 28 as a public holiday to observe Youm-i-Takbeer — the anniversary of Pakistan’s...
Afghan puzzle
Updated 28 May, 2024

Afghan puzzle

Unless these elements are neutralised, it will not be possible to have the upper hand over terrorist groups.
Attacking minorities
28 May, 2024

Attacking minorities

Mobs turn into executioners due to the authorities’ helplessness before these elements.
Persistent scourge
Updated 29 May, 2024

Persistent scourge

THE challenge of polio in Pakistan has reached a new nadir, drawing grave concerns from the Technical Advisory Group...